Word: edsel
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Last week President Edsel Ford made a newsworthy announcement: there would be Fords, Mercuries, Lincoln-Zephyrs at the October A. M. A. auto show at Manhattan's Grand Central Palace. Reason: "We are glad to cooperate with the automobile industry . . . as a matter of convenience to the public in enabling it to see the products of the entire industry under one roof...
Last week TNEC heard why improving technology makes jobs from the No. 1 inheritor of that art: lean, hawk-faced Edsel Ford, president of Ford Motor Co., Henry's only son. It was two days after the 28,000,000th Ford had run off the assembly line in Edgewater, N. J. that he sat down before TNEC's microphone...
...Ford Motor Co. has long had only three directors, Father Henry Ford (see p. 50), Son Edsel Ford, Vice President P. E. Martin. Last week it announced the election of a fourth: Grandson Henry Ford II, guitar-playing son of President Edsel Ford who is to be graduated next year from Yale...
...giant of the industry $8 a ton above its lowest competitor, but it asserted its intention of meeting each cut till its small bedevilers reformed or bled to death. Price cuts that bring increased orders are good business according to the philosophy which Henry Ford made famous and Edsel Ford now practices. But in spite of last week's cuts, steel production fell this week to 45.4% (last week 47%, fortnight ago 49%). Unless more business follows soon, steel's price cuts will raise questions: How far can steel prices tumble without steel managements opening fire on wages...
...group insurance plan for its employes. Though balding, 37-year-old R. T. Johnstone is one of the nation's largest producers of group insurance, Henry Ford always refused on the ground that group insurance was too paternalistic. Last week, however, Broker Johnstone talked again to Edsel Ford, finally closed a deal for a $150,000,000 plan covering more than 100,000 Ford workers. Said a Ford official: "The men wanted...